The Future Stability of Small Businesses Amidst the Cost of Living Crisis
Small businesses are struggling amidst the cost of living crisis, with insolvencies at record highs and inflation driving up costs. The Labour Government’s budget offers temporary relief but fails to address root issues like high energy costs and rising interest rates. To ensure stability, more comprehensive support is needed. Government policies must balance the needs of workers and small business owners. Long-term solutions are essential for the sustainability of small businesses.